CIBC Lowers Royal Bank of Canada (TSE:RY) Price Target to C$175.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective dropped by equities research analysts at CIBC from C$176.00 to C$175.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 2.19% from the stock’s previous close.

RY has been the topic of a number of other reports. Scotiabank lifted their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price target for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Finally, BMO Capital Markets dropped their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$181.00.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up C$2.58 during trading hours on Tuesday, reaching C$171.25. The company had a trading volume of 705,220 shares, compared to its average volume of 4,573,451. The firm has a market cap of C$242.32 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12-month low of C$130.44 and a 12-month high of C$180.45. The company has a 50-day moving average price of C$173.56 and a 200 day moving average price of C$168.47.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total value of C$272,363.80. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This represents a 98.40 % decrease in their position. Over the last 90 days, insiders sold 22,150 shares of company stock worth $3,882,024.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.